{"id":216,"date":"2018-11-24T17:20:42","date_gmt":"2018-11-24T16:20:42","guid":{"rendered":"https:\/\/www.tmi.ee\/?page_id=216"},"modified":"2019-03-27T09:58:02","modified_gmt":"2019-03-27T08:58:02","slug":"bateaux-yachts-details","status":"publish","type":"page","link":"https:\/\/www.tmi.ee\/en\/immatriculation-de-vehicules\/bateaux-yachts-details\/","title":{"rendered":"Bateaux &#038; Yachts d\u00e9tails"},"content":{"rendered":"<div class=\"wpb-content-wrapper\"><p>[vc_row][vc_column][vc_tta_tabs active_section=&#8221;1&#8243;][vc_tta_section title=&#8221;American flag&#8221; tab_id=&#8221;pavillon_americain&#8221;][vc_column_text]<span style=\"color: #000000;\">You like the boat, but the taxation or the climate of your country of residence is not favourable? Then it is time to change course!<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"color: #000000;\">TMI is currently the leader in the registration of pleasure boats in Florida for non-residents.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"color: #000000;\">With ultra-low navigational rights, Florida is the number 1 destination for boating enthusiasts. In addition, if you were born before 1 January 1988, having a boat license is not even required for the right of navigation.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"color: #000000;\">Another specificity, there is no limitation of navigation in the US from a shelter, it is therefore possible to connect the coasts of Florida to the Bahamas, which opens up a navigation and fishing zone of an unsuspected richness and unique to the world.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"color: #000000;\">The annual right of navigation fee is only calculated on the hull (the engines are not taxed) and it will only cost you a few hundred dollars depending on the hull length. As an indication, the amount of the fees for the right of navigation (Florida Boat Registration Fees) is available via the following link: <a href=\"https:\/\/www.dmv.com\/fl\/florida\/boat-registration\">www.dmv.com\/fl\/florida\/boat-registration.<\/a><\/span><\/p>\n<p><span style=\"color: #000000;\">Before you get underway with your boat, we take care of the legal part, and especially the security of your investment.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"color: #000000;\">Holding the registration certificate in your own or in common name is the worst way to hold an ownership title on a boat. By doing so, you expose all the assets you hold (in your own name or in common) to a possible lawsuit based on your civil liability commitment in the event of an accident.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"color: #000000;\">Legally all vessels must be insured. However, in the event of a serious accident, any specialised lawyer will want to go beyond the limits of the insurance policy and try to hold you personally accountable. So if the insurance is not enough, and you do not have to register your vessel in your name, what should you do?<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"color: #000000;\">The answer is threefold:<\/span><\/p>\n<ul>\n<li style=\"color: #000000;\"><span style=\"color: #000000;\">(1) Register the vessel in the name of an LLC (Limited Liability Company);<\/span><\/li>\n<li style=\"color: #000000;\"><span style=\"color: #000000;\">(2) Ensure that the LLC has the articles of association properly structured by a corporate lawyer;<\/span><\/li>\n<li style=\"color: #000000;\"><span style=\"color: #000000;\">(3) Register the LLC in a state that has strict asset protection laws for LLC\u2019s, such as Florida, Delaware or Nevada.<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><span style=\"color: #000000;\">You are now the owner of the shares of an LLC that safely owns your boat, all that remains is to find you a mooring.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"color: #000000;\">Before buying the boat, we can offer to find you a mooring or a covered and safe dry storage for boats under 40 feet.<\/span>[\/vc_column_text][\/vc_tta_section][vc_tta_section title=&#8221;Red Ensign flag&#8221; tab_id=&#8221;pavillon_red_ensign&#8221;][vc_column_text]<span style=\"color: #000000;\">For larger vessels that require a crew, depending on the use of the vessel, we recommend using either the Panamanian flag or the Red Ensign.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"color: #000000;\">The British jurisdictions under the Red Ensign are a popular choice for super yachts around the world. Indeed, the flags of the Red Ensign represent 80% of the yachts around the world.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"color: #000000;\">The 13 offshore jurisdictions of the British Red Ensign include the United Kingdom, the Crown Dependencies (for example the Isle of Man, Guernsey and Jersey) and the British Overseas Territories: Bermuda, Gibraltar, Turks and Caicos, British Virgin Islands and the Cayman Islands. Any vessel registered in these jurisdictions is therefore considered a British vessel and has the right to fly a Red Ensign flag.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"color: #000000;\">The Red Ensign Group is divided into two categories of territories:<\/span><\/p>\n<ul>\n<li style=\"color: #000000;\"><span style=\"color: #000000;\">1st category: territories that can register yachts of unlimited tonnage, type and length: United Kingdom, Bermuda, British Virgin Islands, Cayman Islands, Gibraltar and the Isle of Man.<\/span><\/li>\n<li style=\"color: #000000;\"><span style=\"color: #000000;\">2nd category: territories that can register yachts up to 150 gross registered tonnes (GRT) and vessels which are not commercially operated, up to 400 GRT: Falkland Islands, Jersey, Guernsey, Turks and Caicos Islands, Anguilla, Montserrat and Saint Helena.<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><span style=\"color: #000000;\">For example, a vessel flying the flag of Gibraltar could be transferred to the Cayman Islands register simply by filing a request with the respective ship registers.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"color: #000000;\">The Red Ensign comprises two jurisdictions within the European Union, but outside the VAT area of the European Union, such as Gibraltar, as well as non-EU jurisdictions such as the Isle of Man.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"color: #000000;\">The tax benefits will be significant, depending on the jurisdiction chosen.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"color: #000000;\">The Red Ensign of the Cayman Islands is widely recognised as the most popular flag for yachts.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"color: #000000;\">More information:\u00a0<a href=\"https:\/\/www.tmi.ee\/annexes\/#liste_visa_Red_Ensign\">\u201c10 reasons to choose the Red Ensign\u201d<\/a>.<\/span>[\/vc_column_text][\/vc_tta_section][vc_tta_section title=&#8221;Panamanian flag&#8221; tab_id=&#8221;pavillon_panameen&#8221;][vc_column_text]<span style=\"color: #000000;\">The registration of maritime vessels in Panama is a huge industry.<\/span><\/p>\n<p><span style=\"color: #000000;\">Panama has registered more vessels than any other country in the world: more than 8200 maritime vessels fly the Panamanian flag (representing more than 20% of the world\u2019s tonnage, being the world\u2019s largest maritime register).<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"color: #000000;\">The reasons for registering your boat in Panama are many:<\/span><\/p>\n<ul>\n<li style=\"color: #000000;\"><span style=\"color: #000000;\">Registration and management costs are the lowest worldwide;<\/span><\/li>\n<li style=\"color: #000000;\"><span style=\"color: #000000;\">The legal structures are well suited for a boat that will be offered for chartering purposes;<\/span><\/li>\n<li style=\"color: #000000;\"><span style=\"color: #000000;\">The annual renewal cost is low;<\/span><\/li>\n<li style=\"color: #000000;\"><span style=\"color: #000000;\">No minimum tonnage required for the registration of vessels;<\/span><\/li>\n<li style=\"color: #000000;\"><span style=\"color: #000000;\">Anonymity is guaranteed by the establishment of \u201coffshore\u201d companies;<\/span><\/li>\n<li style=\"color: #000000;\"><span style=\"color: #000000;\">No VAT to pay on the purchase of boats;<\/span><\/li>\n<li style=\"color: #000000;\"><span style=\"color: #000000;\">Easy resale of the stakes held by the company.<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><span style=\"color: #000000;\">A vessel may be registered in Panama, if a Panamanian company owns at least half of the stake in the vessel.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"color: #000000;\">TMI is a recognized specialist in this type of registration and your company will be registered in a few hours in Panama. The advantages of this type of registration are numerous:<\/span><\/p>\n<ul>\n<li style=\"color: #000000;\"><span style=\"color: #000000;\">No tax on profits from the exploitation or management of a Panamanian vessel;<\/span><\/li>\n<li style=\"color: #000000;\"><span style=\"color: #000000;\">No tax on dividends that are received from a company owning a boat;<\/span><\/li>\n<li style=\"color: #000000;\"><span style=\"color: #000000;\">No stamp duty on mortgage debt securities on a boat or any other security documents;<\/span><\/li>\n<li style=\"color: #000000;\"><span style=\"color: #000000;\">No income tax on allowances for officers and crew, no payroll taxes for boats sailing in international waters;<\/span><\/li>\n<li style=\"color: #000000;\"><span style=\"color: #000000;\">Shipping companies are virtually exempt from any kind of tax;<\/span><\/li>\n<li style=\"color: #000000;\"><span style=\"color: #000000;\">Panamanian legislation stipulates that all documents referring to vessels are eligible, provided that they are presented in a language understandable to officials &#8211; English in this case. This provision speeds up the registration of vessels and reduces translation costs;<\/span><\/li>\n<li style=\"color: #000000;\"><span style=\"color: #000000;\">Panamanian taxation is only territorial and does not tax the income of vessels involved in international trade.<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><span style=\"color: #000000;\">In addition to the mentioned registration advantages, Panama offers a dual register system for yachts, boats or commercial vessels. This dual registry system \u201cDual Registry\u201d was established in the Republic of Panama under Law No 3 of 1973, and stipulates that a foreign yacht, vessel or boat that is chartered for a period of two years, can be registered in Panama; and this without losing its previous registration for the same period.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"color: #000000;\">This is a solution for European shipping companies that have high operating costs associated with the use of flags from European countries.<\/span>[\/vc_column_text][\/vc_tta_section][\/vc_tta_tabs][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<a href=\"https:\/\/www.tmi.ee\/contact\/?SERVICE=10\">Our contact form<\/a>[\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>[vc_row][vc_column][vc_tta_tabs active_section=&#8221;1&#8243;][vc_tta_section title=&#8221;American flag&#8221; tab_id=&#8221;pavillon_americain&#8221;][vc_column_text]You like the boat, but the taxation or the climate of your country of residence is not favourable? Then it is time<span class=\"excerpt-hellip\"> [\u2026]<\/span><\/p>\n","protected":false},"author":1,"featured_media":0,"parent":65,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-216","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/www.tmi.ee\/en\/wp-json\/wp\/v2\/pages\/216"}],"collection":[{"href":"https:\/\/www.tmi.ee\/en\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.tmi.ee\/en\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.tmi.ee\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.tmi.ee\/en\/wp-json\/wp\/v2\/comments?post=216"}],"version-history":[{"count":0,"href":"https:\/\/www.tmi.ee\/en\/wp-json\/wp\/v2\/pages\/216\/revisions"}],"up":[{"embeddable":true,"href":"https:\/\/www.tmi.ee\/en\/wp-json\/wp\/v2\/pages\/65"}],"wp:attachment":[{"href":"https:\/\/www.tmi.ee\/en\/wp-json\/wp\/v2\/media?parent=216"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}